Currently, CDC and PWL Central wholesale a
range of prescription and over-the-counter pharmaceutical
products to pharmacies as well as some hospitals.

“The
Commission is satisfied that the proposed acquisition will
not have, or would not be likely to have, the effect of
substantially lessening competition in any market in New
Zealand,” said Commerce Commission Chairman Dr Mark
Berry.

CDC and PWL Central are co-operative companies
owned by their customers. All existing shareholders would
become shareholders in the merged entity. “In this
instance, the Commission considers that the merged entity is
unlikely to have an incentive to raise prices to its own
shareholding customers,” said Dr Berry.

“In addition,
CDC and PWL Central primarily operate in different parts of
the country so there is limited direct overlap in their
operations. In all the regions where the merged entity would
operate, it would compete against existing suppliers,
notably ProPharma,” Dr Berry added.

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